Two Primary Residence for Couple Living Separately

[Jerry Jiang]

I'm sorry if this has already been posted but I didn't see anything with this same situation. I'm just starting to learn about Real Estate investing and after listening to many BP podcasts I'm eager to jump into my first foray at house hacking and want to make sure I stay on the up and up.

My wife works in Los Angeles so we bought a house in LA. I work in San Diego and I commute there when I need to be in the office and I get a hotel when necessary. We're looking to purchase a property in San Diego that I can live in during the week (Mon-Fri), and rent out the other bedrooms. If we are living at different houses most of the year, are we allowed to claim two separate primary residences? 

[Colleen F.]

@Jerry Jiang You could probably get a second home interest rate on the loan unless you are moving to SD.   As for tax purposes since you are getting rental income from the property in San Diego the portion you rent is considered rental property.  Basically  the portion of the expenses that support the rental are charged against the income. There is also depreciation to consider. It sounds like you need to talk to a CPA.  You can only have one primary as far as the real estate taxes and homestead exemption if applicable in your state.